It's official: Skydance-owned Paramount has closed its $81 billion takeover of Warner Bros. Discovery.

Skydance Corp. (NYSE:SKYD) shares are trending Tuesday after Paramount Skydance Corp. (NASDAQ:PSKY) completed its merger with Warner Bros. Discovery.

Skydance shares are struggling in their first day with a new company name and ticker symbol.

David Ellison marked the combination of Paramount Skydance (NASDAQ:PSKY | PSKY Price Prediction) and Warner Bros.

What happened Warner Bros. Discovery, Inc. (NASDAQ: WBD) said Skydance Corporation completed its acquisition on October 6, 2026. Merger Sub merged with and into WBD, and WBD survived as a wholly owned subsidiary of Skydance Corporation. Each share of WBD Common Stock was canceled and converted into about $31.02 in cash, without interest. WBD said

Paramount Skydance Corp (NASDAQ:PSKY) is closing its $110 billion acquisition of Warner Bros Discovery Inc (NASDAQ:WBD, XETRA:J5A) on Tuesday, creating Skydance and reducing Hollywood's major movie studios from five to four. David Ellison, Paramount Skydance's chief executive, will lead the new company as co-chief executive alongside Ynon Kreiz, the former Mattel chief executive who will oversee day-to-day operations and integration.

Paramount announced on Tuesday that it has completed its $110 billion acquisition of Warner Bros. Discovery to create a combined company called Skydance.

One group of shareholders walks away with cash at closing. The other inherits a renamed company on a new exchange carrying roughly $80 billion in debt, and the settlement terms make the usual escape routes unavailable.

David Ellison's $81 billion merger of Paramount and Warner Bros. Discovery officially closed Tuesday more than seven months after his winning bid, creating a new media behemoth known as Skydance.

The long-gestating merger of Paramount and Warner Bros. Discovery has closed, yielding a new major player in media. Shares in the new company, Skydance, will start trading Tuesday on the New York Stock Exchange.